Equity Indexed Annuities

[scagnt83]

That is one of the funniest thing I have ever read on this forum you obviously havent been in this business to long.

They are without a doubt one of the Shadier companies on that list, and that is a FACT.

I said "that I have ever sold for", not that I do sell for... I probably could have phrased that a bit better.

Aviva is a shady company, but so are others on that list. None of them are my go to companies for EIAs.

Aviva had a few decent EIA contracts though, then they some crappy ones as well.
One of the reasons those companies are considered shady is the wording of the contracts...

One reason those companies have so much sales is because they have some of the highest commissions. Allianz at one time paid 12%+ on some EIAs. And at the same time was giving 6%+ bonuses, except you had to annuitize to keep the bonus... lol

I know there are some Allianz fans on this forum, I had a wholesaler from a different company tell me a while back that they have really been stepping up their VA lineup.. I dont know, and dont really care. Its companies like Allianz (and Aviva) that make the SEC want to have oversight over EIAs

 

[Freddie]

The SEC and FINRA probably want oversight of EIA's because there is money there. They want their cut. The SEC has their own issues. The field agents are generally pretty good while the management has some "issues."

I would not sell VAs.

 

[Death Cab For Tootie]

The SEC and FINRA probably want oversight of EIA's because there is money there. They want their cut. The SEC has their own issues. The field agents are generally pretty good while the management has some "issues."

I would not sell VAs.

Well put. 151 is a money grab and nothing more. IMO, if you declare EIAs a security, you must declare WL, UL, fixed annuities, and CDs securities.

 

[HarryRenard]

The SEC has their own issues. The field agents are generally pretty good while the management has some "issues."

What exactly makes one a "good" field agent?

 

[arnguy]

I would suggest looking at Jack Marrion's website and reading his material on EIAs. He appears to be the EIA maven.

 

[Freddie]

Well put. 151 is a money grab and nothing more. IMO, if you declare EIAs a security, you must declare WL, UL, fixed annuities, and CDs securities.

I also support state regulation of insurance companies and I do not want the SEC regulating insurance companies. They should practice on investment banks for a while to see if they can do a better job there (which they never will).

 

[lflashman]

1) How many people have lost money in indexed annuities? Provided they didn't surrender them. I know some companies charge the surrender if you die, but, that's why I won't write for them.
2) How many people have lost money in investments overseen by the SEC?

Doesn't take a rocket scientist to see the SEC should be kept out of annuities.